What are media sellers thinking during the pandemic? SalesFuel’s study of “State of Media Sales” held in mid-April 2020 uncovers current perspectives around the media industry of where there is opportunity. The study surveyed 820 self-identified media sales professionals about the past year and current, unusual economic conditions.
The top two verticals where sellers say they expect to see at least steady, if not increased spending, despite COVID-19 are Political and Healthcare, according to SalesFuel’s “2020 State of the Media Sales” study.
BIA’s local media forecast also sees Political and Healthcare as key categories in 2020. In fact, BIA expects political advertising to bolster local media (particularly over-the-air TV) in 2020 with $7.1 billion in spending, with 46% expected to go to over-the-air TV. Political campaigns have a solid window of opportunity in Q2 and Q3 to take advantage of favorable media market conditions – high audience availability and discounted media rates and more available spending power as monies get shifted from physical events.
For Healthcare, BIA forecasts that ad spending will be almost flat from 2019, growing less than 1% from $10.45 billion to $10.5 billion. In a year where most other key verticals are seeing declines (some in the double digits), Healthcare provides some welcome relief (and opportunity) for local media sellers.
Other verticals where sellers in the study report they will see local ad sales increases include Job Recruitment/Employment, Grocery, and Local Services Businesses (Home Improvement).
As BIA looks at the growth opportunity in local for these verticals, we forecast potential declines in spend overall for all three categories except in digital advertising categories such as Mobile, Over-the-Top (OTT), and Online (Search/Display). As businesses in these categories increasingly turn to digital for their advertising needs, local media sellers will need to include digital in offers.
For more results from the study, attend the webinar Tuesday, May 19: “2020 State of Media Sales.” SalesFuel’s C. Lee Smith, CEO and Lisa Rigsby, Vice President of Sales, and BIA’s Celine Matthiessen, Vice President of Insights & Analytics will discuss the following on the webinar:
- State of Revenue (BIA’s latest post COVID estimates)
- When and where to look for recovery and growth
- Impact on communications styles/methods
- Manager attention to sales team frustration and stagnation
BIA Vertical Opportunity Reports
BIA has Vertical Opportunity reports available for purchase for several verticals, including Political, Healthcare, Home Improvement, Automotive and more.
BIA ADVantage subscribers can login to access these vertical reports and run custom reports for their local markets.
Download a Complimentary Report from SalesFuel
SalesFuel is offering a complimentary report entitled “Selling Media During the Pandemic.” Discover four tactics to help you stay focused and productive during the COVID-19 pandemic.